DE VOLDER MANAGEMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DE VOLDER MANAGEMENT
Largest movements
- Receivables within one year +€123,173
up €123,173 (+228%), from €54,050 to €177,223
of which Other amounts receivable: +€138,990
- Current investments -€112,789
down €112,789 (-91.1%), from €123,782 to €10,993
- Cash +€89,329
up €89,329 (+111%), from €80,191 to €169,520
mainly Net result for the year (+€141,027) and Current investments (+€112,789)
- Tangible fixed assets +€52,480
up €52,480 (+4.6%), from €1.1m to €1.2m
of which Furniture and vehicles: +€72,977
- Reserves +€141,027
up €141,027 (+23.0%), from €613,923 to €754,950
of which Distributable reserves: +€141,027
- Tax, wage and social debts +€37,923
up €37,923 (+585%), from €6,479 to €44,403
- Other debts -€17,417
down €17,417 (-69.0%), from €25,252 to €7,835
- Gross operating margin +€126,804
up €126,804 (+93.7%), from €135,343 to €262,147
- Taxes +€41,163
up €41,163 (+176%), from €23,331 to €64,494
- Other operating charges +€8,066
up €8,066 (+96.6%), from €8,353 to €16,419
- Depreciation -€4,549
down €4,549 (-10.4%), from €43,610 to €39,061
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,445,407 | €1,599,681 | +€154,274 | +10.7% |
| Fixed assets | 21/28 | €1,184,104 | €1,236,584 | +€52,480 | +4.4% |
| Tangible fixed assets | 22/27 | €1,148,801 | €1,201,281 | +€52,480 | +4.6% |
| Land and buildings | 22 | €1,088,760 | €1,068,840 | -€19,921 | -1.8% |
| Plant, machinery and equipment | 23 | €2,038 | €1,462 | -€576 | -28.3% |
| Furniture and vehicles | 24 | €40,988 | €113,964 | +€72,977 | +178% |
| Other tangible fixed assets | 26 | €17,015 | €17,015 | = | 0.0% |
| Financial fixed assets | 28 | €35,303 | €35,303 | = | 0.0% |
| Current assets | 29/58 | €261,304 | €363,097 | +€101,794 | +39.0% |
| Amounts receivable within one year | 40/41 | €54,050 | €177,223 | +€123,173 | +228% |
| Trade receivables | 40 | €41,550 | €25,733 | -€15,818 | -38.1% |
| Other amounts receivable | 41 | €12,500 | €151,490 | +€138,990 | +1,112% |
| Current investments | 50/53 | €123,782 | €10,993 | -€112,789 | -91.1% |
| Cash at bank and in hand | 54/58 | €80,191 | €169,520 | +€89,329 | +111% |
| Deferred charges and accrued income | 490/1 | €3,281 | €5,361 | +€2,080 | +63.4% |
| Total equity and liabilities | 10/49 | €1,445,407 | €1,599,681 | +€154,274 | +10.7% |
| Equity | 10/15 | €1,400,877 | €1,541,904 | +€141,027 | +10.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Revaluation surpluses | 12 | €477,098 | €477,098 | = | 0.0% |
| Reserves | 13 | €613,923 | €754,950 | +€141,027 | +23.0% |
| Non-distributable reserves | 130/1 | €1,874 | €1,874 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,874 | €1,874 | = | 0.0% |
| Distributable reserves | 133 | €612,049 | €753,076 | +€141,027 | +23.0% |
| Profit (loss) carried forward | 14 | €297,456 | €297,456 | = | 0.0% |
| Amounts payable | 17/49 | €44,530 | €57,777 | +€13,247 | +29.7% |
| Amounts payable after more than one year | 17 | €848 | €0 | -€848 | -100% |
| Financial debts | 170/4 | €848 | €0 | -€848 | -100% |
| Amounts payable within one year | 42/48 | €41,860 | €57,136 | +€15,276 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €10,129 | €848 | -€9,280 | -91.6% |
| Trade debts | 44 | €0 | €4,051 | +€4,051 | |
| Suppliers | 440/4 | €0 | €4,051 | +€4,051 | |
| Taxes, remuneration and social security | 45 | €6,479 | €44,403 | +€37,923 | +585% |
| Taxes | 450/3 | €6,479 | €44,403 | +€37,923 | +585% |
| Other amounts payable | 47/48 | €25,252 | €7,835 | -€17,417 | -69.0% |
| Accrued charges and deferred income | 492/3 | €1,822 | €641 | -€1,181 | -64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,610 | €39,061 | -€4,549 | -10.4% |
| Other operating charges | 640/8 | €8,353 | €16,419 | +€8,066 | +96.6% |
| Gross operating margin | 9900 | €135,343 | €262,147 | +€126,804 | +93.7% |
| Operating profit (loss) | 9901 | €83,380 | €206,667 | +€123,287 | +148% |
| Financial income | 75/76B | €165 | €6 | -€159 | -96.1% |
| Recurring financial income | 75 | €165 | €6 | -€159 | -96.1% |
| Financial charges | 65/66B | €2,621 | €1,153 | -€1,469 | -56.0% |
| Recurring financial charges | 65 | €2,621 | €1,153 | -€1,469 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €80,924 | €205,521 | +€124,597 | +154% |
| Income taxes | 67/77 | €23,331 | €64,494 | +€41,163 | +176% |
| Profit (loss) for the period | 9904 | €57,592 | €141,027 | +€83,434 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €57,592 | €141,027 | +€83,434 | +145% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.